Automovill, a full-stack mobility start-up has raised an undisclosed amount from Angel Bay. The round saw the participation from Santosh Chandra CEO at Essar Oil & Gas Exploration and Production, and executives from Google and PWC. This round is the top up to the bridge round which brand raised in mid July.
The brand is ambitious to provide tech-enabled solutions to customers, and ensure a top-notch experience in terms of B2B car service management. While the brand already has served 1,00,000+ orders across 12 cities, it plans to expand its footprint in other geographies, and deploy tech solutions. In order to execute the same, Automovill, plans to exhaust funds to widen its wings in 20+ cities, and in ramping up the infrastructure.
“Automovill has been expanding at a great pace, clocking impressive numbers. With technology disrupting the auto service sector there is a huge scope that still needs to be leveraged. Investing in one of the fastest growing mobility startups reinstates the wider horizons that are yet to be explored,” said Sorabh Agarwal, Co-founder of AngelBay.
“The growth in the auto service sector has been overwhelming. People are avoiding shared mobility which has given a boost to private vehicles and associated services. We are already spread across 12 cities getting a good response, which has motivated us to penetrate deeper into the market. With the support of right investors we are able to raise consecutive rounds and catalyse our growth rate,” said Mridu Mahendra Das, Co-founder & CEO, Automovill.
Santosh Chandra, CEO at Essar Oil &Gas Exploration and Production, added, “ The Mobility industry has been a delight for investors all across the world. In India, this was one of the unorganised sectors which explains the potential in holds. Automovill with its refined business model, right technology intervention and focussed approach will be able to reap it to the best.”
The brand has its portfolio studded with 3 Unicorns in Indian Automotive sector that include names like Cars24, CarDekho, Uber. It plans to reach a mark of 25K order, and presence across 20 cities by the end of current fiscal.